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Grade 8
Simple and Compound Interest
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Choose correct answer(s) from the given choices

16
(1) Simple interest on a certain amount is of the principal. If the numbers representing the rate of
81
interest (in percent) and time (in years) be equal, then what is the time, for which the principal is
lent out?
8 4
a. 11 years b. 4 years
9 9

8 12
c. 13 years d. years
9 9

(2) A sum of money becomes triple of itself at simple interest in 18 years, how long would it take for
same amount to become 4 times?
a. 26 years b. 25 years
c. 36 years d. 27 years

(3) Ulfat deposited ₨74000 in a bank and received ₨82880 at the end of 3 years. What is the rate of
simple interest that Ulfat received?
a. 13% p. a. b. 4% p. a.
c. 11% p. a. d. 9% p. a.

(4) Shabnam borrowed ₨90000 from Nawaz for 6 months. Find the amount of interest she will pay to
Nawaz at the end of 6 months if Nawaz charged 12% interest per annum compounded quarterly.
a. ₨5464 b. ₨5569
c. ₨5499 d. ₨5481

(5) The simple interest on a certain sum for 5 years at 8% per annum is ₨200 more than the simple
interest on the same sum for 3 years at 9% per annum. Find the sum.
a. ₨1551.46 b. ₨1538.46
c. ₨1547.46 d. ₨1543.46

(6) How long will it take for an amount to become 5 times of itself at 5% per annum simple interest?
a. 81 years b. 78 years
c. 79 years d. 80 years

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(7) Sehr borrowed ₨70000 from Azra for 1 year. Find the amount of interest she will pay to Azra at
the end of 1 year if Azra charged 10% interest per annum compounded half yearly.
a. ₨7251 b. ₨7134
c. ₨7175 d. ₨7200

Fill in the blanks

(8) Madeeha invested in mutual funds. If that mutual fund offered an interest rate of 14% per annum

compounded annually, then the amount of money invested by Madeeha was ₨ given

that she got a total amount of ₨64980 from the funds after 2 years.

(9) The simple interest at z% for z years will be ₨ z on a sum of ₨ .

(10) If a person lent ₨20000 at 40% interest per annum compounded annually for 1 year and 6
months, then what the amount of interest received by him at the end of 1 year and 6 months is ₨

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